Reference no: EM133176086
Question - Chang Co. manufacturers its products in a continuous process involving two departments, Machining and Assembly. Present entries to record the following selected transactions related to production during June:
(a) Materials purchased on account, $225,000.
(b) Materials requisitioned by: Machining, $73,000 direct and $9,000 indirect materials; Assembly, $4,900 indirect materials.
(c) Direct labor used by Machining, $23,000, Assembly, $47,000.
(d) Depreciation expenses: Machining, $2,000; Assembly, $8,000.
(e) Manufacturing overhead applied: Machining, $9,700; Assembly, $11,300.
(f) Machining Department transferred $98,300 to Assembly Department, Assembly Department transferred $83,400 to finished goods.
(g) Cost of goods sold, $72,000.
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